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Automation creates consistency. It can
be applied effectively as an aid to the
loan originator in delivering excellent
customer service and for streamlining
loan production. In fact, the trust that a
mortgage professional earns by being
proactively engaged with borrowers —
and quick to respond personally to their
needs — may have a larger impact on
conversion rates than simply being able
to provide fast approvals.

Marketing and sales automation also
can be used to gauge a borrower’s level
of motivation and preparedness for
getting a mortgage. Many borrowers,
for example, look at different lenders
to compare rates and to see how much
they can afford when shopping for a
home. Not all of them care about getting approved right away.

Some will click on an online marketing piece or even fill out an online
form, only to abandon the effort before
locking in a rate. Mortgage professionals who are using sales automation are
able to respond faster to these prospects — before they walk away — and
can find out if they have any questions
about getting a loan, which they almost
always do.

These very same tools can be used
to stay connected with past clients
and to ensure that sales teams conduct
consistent follow-ups, which are the
real keys to growing sales. They can
be used, for example, to send out an
automated text or e-mail to remind a
borrower who forgot to upload a key
document for a loan approval.

n n n

It may still be some time before printed
paper goes the way of the rotary telephone. Keep in mind that cell phones
have been around for decades, but they
did not achieve mass appeal until manufacturers figured out how to deliver a
better user experience.

By all means, let’s continue pushingfor digital mortgages. But in doing so,the right mortgage to a fast one. nthrough the funnel and more on actualclient relationships. This should alwaysbe the goal, whether or not you are try-ing to create digital mortgages.

Many lenders, for instance, now offeronline portals where borrowers can getmajor drawback of a consumer-drivenmortgage process appears when a bor-rower has a question, and there’s noone around to provide an answer.

For borrower portals to be truly suc-cessful, human expertise must be avail-has a chance to log off and try anotherlender. The solution is to leverageautomation to not only create digitalloan files, but to alert mortgage pro-fessionals when a borrower reaches aroadblock in the process. The ability torespond immediately when borrowershave questions also is necessary to aneffective process.

<< Touchcontinued from Page 160 “Marketing and sales automation also canbe used to gauge a borrower’s level ofmotivation and preparedness.”